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Pandemic Diaries: Indian Millennials Dependent On Borrowing Aug-Sep
By: Tupaki Desk | 11 Dec 2020 9:42 AM GMT
It's been more than one year since the ongoing pandemic has hit the world. Like any other country, India too suffered from the pandemic outbreak. India's troubles increased as the country's economy went through severe losses.
A recent survey conducted by a British multinational banking and financial services company has found out that half of the millennials in India reported borrowing between August-September.
The term millennials is used to define people who are born after 1981. The millennials were the most affected by the Covid-19 outbreak as they borrowed money to manage their expenses, the survey said.
The outcome of the survey is that44 percent of Indian millennials who participated in the survey said that during the lockdown period their borrowings have increased. On the other hand, 28 percent of working people aged above 45 have borrowed money for their expenses.
Many employees losing their jobs and experiencing pay cuts in their salaries with Coronavirus outbreak forced the millennials to depend on borrowing to manage their bills and expenses.
The survey has also said that the millennials learned a big lesson with Coronavirus and started focusing on long-term savings and carefully planning their investment activities.
A recent survey conducted by a British multinational banking and financial services company has found out that half of the millennials in India reported borrowing between August-September.
The term millennials is used to define people who are born after 1981. The millennials were the most affected by the Covid-19 outbreak as they borrowed money to manage their expenses, the survey said.
The outcome of the survey is that44 percent of Indian millennials who participated in the survey said that during the lockdown period their borrowings have increased. On the other hand, 28 percent of working people aged above 45 have borrowed money for their expenses.
Many employees losing their jobs and experiencing pay cuts in their salaries with Coronavirus outbreak forced the millennials to depend on borrowing to manage their bills and expenses.
The survey has also said that the millennials learned a big lesson with Coronavirus and started focusing on long-term savings and carefully planning their investment activities.
